Impact Of Cost Reduction In The Profitability Trend Of A Manufacturing Industry (A Study Of First Aluminium Industry Nigeria Ltd Portharcourt, Rivers State)
ABSTRACT
This study is concerned with the
impact of cost reduction in the profitability of a - manufacturing firm in
Nigeria using First Aluminum Company Nigeria Ltd Port harcourt branch as a case
study. Due to the rising complexity of downfall, instability, and non growth of
so many' companies which usually results in winding up of these companies, this
study is aimed at finding out how a company can increase its profits by
reducing costs and if it can affect the
growth of these companies by solving the problems being faced. The objective of
this study is to determine the relationship between effective cost reduction
and profitability of Nigerian manufacturing firms. Based on the problems and
objectives, hypothesis was formulated. Both primary and secondary data item
used. Primary data was obtained from respondent through questionnaires while
the secondary data as obtained from the company's financial statement. Simple
regression was employed for statistical analysis. The study revealed that
effective cost reduction measures can actually affect the growth of
manufacturing industries positively. Recommendations were made on ways of
ensuring effectiveness and efficiency of cost reduction techniques by providing
necessary information on time and ensuring the proper monitoring of the implementation
of these techniques which will help the company minimize its cost and increase
its profits.
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ONWUSULU, I (2021). Impact Of Cost Reduction In The Profitability Trend Of A Manufacturing Industry (A Study Of First Aluminium Industry Nigeria Ltd Portharcourt, Rivers State). Repository.mouau.edu.ng: Retrieved Nov 26, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-in-the-profitability-trend-of-a-manufacturing-industry-a-study-of-first-aluminium-industry-nigeria-ltd-portharcourt-rivers-state-7-2
IFUNANYA, ONWUSULU. "Impact Of Cost Reduction In The Profitability Trend Of A Manufacturing Industry (A Study Of First Aluminium Industry Nigeria Ltd Portharcourt, Rivers State)" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 28 Jul. 2021, https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-in-the-profitability-trend-of-a-manufacturing-industry-a-study-of-first-aluminium-industry-nigeria-ltd-portharcourt-rivers-state-7-2. Accessed 26 Nov. 2024.
IFUNANYA, ONWUSULU. "Impact Of Cost Reduction In The Profitability Trend Of A Manufacturing Industry (A Study Of First Aluminium Industry Nigeria Ltd Portharcourt, Rivers State)". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 28 Jul. 2021. Web. 26 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-in-the-profitability-trend-of-a-manufacturing-industry-a-study-of-first-aluminium-industry-nigeria-ltd-portharcourt-rivers-state-7-2 >.
IFUNANYA, ONWUSULU. "Impact Of Cost Reduction In The Profitability Trend Of A Manufacturing Industry (A Study Of First Aluminium Industry Nigeria Ltd Portharcourt, Rivers State)" Repository.mouau.edu.ng (2021). Accessed 26 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-in-the-profitability-trend-of-a-manufacturing-industry-a-study-of-first-aluminium-industry-nigeria-ltd-portharcourt-rivers-state-7-2